$PEPE 24h price surge (+1.99%) reflects whale accumulation, a bullish technical breakout, and meme coin momentum amid Bitcoin’s rally to $118k.

Whales added 2.3% to holdings while exchange reserves fell 2.17%

Technical breakout above $0.000013 resistance with RSI (63.35) signaling room for upside.

Meme coin sector surged 11.3% as Bitcoin’s rally fueled risk appetite.

Deep Dive

1. Primary Catalyst: Whale Accumulation & Exchange Outflows

Top 100 addresses increased PEPE holdings by 2.3% in July, now controlling 304.1T tokens.

$9.8M in PEPE withdrawn from exchanges in 48h (July 10–11), reducing immediate sell pressure.

Whale wallet 0x06b3 bought 227.8B PEPE ($2.68M) just before the rally, signaling confidence in upside.

2. Technical Context: Breakout Confirmation

Price cleared $0.000013 resistance (Fibonacci 23.6% level) on July 11, invalidating a 3-week downtrend.

RSI (63.35) remains below overbought territory, while MACD histogram turned positive (+0.00000038278).

Key support at $0.000012 aligns with the 7-day SMA ($0.000011175), now acting as a floor.

3. Market Dynamics: Meme Coin Momentum

Bitcoin’s ATH at $118k (July 11) triggered altcoin rotations, with meme coins up 11.3% in 24h.

PEPE’s 24h volume hit $1.06B (+70% vs. previous day), outpacing Dogecoin and Shiba Inu.

Social mentions of “#pepe spiked 320% on July 11, driven by bullish chart posts and influencer tweets.

Conclusion

PEPE’s rally hinges on whale-driven liquidity, technical momentum, and the meme sector’s beta to Bitcoin’s surge. Watch for a close above $0.00001350 (July 12 swing high) to confirm continuation, but note that 44.85% of supply is held by whales—a double-edged sword for volatility.

Could PEPE’s social dominance sustain its outperformance if Bitcoin consolidates?